As with other companies involved, YouTube is providing an amount of upfront funding to the channel and then there is a business agreement in which Gravity Road will receive an undisclosed percentage of the ad revenue generated.

According to Gravity Road, Fash#Tag will be a channel YouTube fans can "physically visit, not just virtually watch".

The channel will be based in London's Carnaby Street and will feature a mix of fashion "need-to-knows" and "must-have" celebrity news and entertainment.

Gravity Road claims to have assembled a network of "successful YouTube fashion bloggers" who will guest-feature in programming and cross-promote the channel’s launch to their millions of subscribers.

Mark Eaves, co-founder of Gravity Road, said: "London leads the world in fashion. Yet established media has struggled to embrace passionate fashion fans that want fast, original and entertaining social video. But now, Fash#Tag is here."

Speaking to Campaign, he added: "We’re the young start-up that YouTube wants to support. Hopefully our knowledge of how to launch and market a brand is something that was of appeal.

"We see and understand that we are trying to launch a fashion brand that is beginning life as a channel – rather than just launching a channel."